NEW DELHI: A total of 117 fresh cases were taken up for investigation by Sebi in 2017-18, marking a decline of 52 per cent from the preceding financial year, as per the markets regulator's latest annual report.
The cases were related to alleged violation of securities law including market manipulation and price rigging.
"During 2017-18, 117 new cases were taken up for investigation and 145 cases were completed compared to 245 new cases taken up and 155 cases completed in 2016-17," the report noted.
Sebi said 34 per cent of the total cases taken up for investigation in 2017-18 pertained to market manipulation and price rigging.
Besides, insider trading, takeover violation, among others, accounted for 15 per cent of the total cases, while 51 per cent were related to other violations of securities laws.
The Securities and Exchange Board of India (Sebi)initiates investigation based on reference received from sources such as its integrated surveillance department, other operational departments and external government agencies.
"The purpose of such investigation is to gather evidence and to identify persons/ entities behind irregularities and violations so that appropriate and suitable regulatory action can be taken, wherever required," the regulator noted in the annual report for 2017-18.
During the year, a total of 888 adjudication proceedings were disposed of by Sebi and 594 fresh cases were initiated. As on March 31, 2018, adjudication proceedings were pending in 1,053 cases.
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